News

Representatives David Schwikert (R-AZ) and Byron Donalds (R-FL) have introduced H.R. 8579, the Retirement Protection Act.

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms and flooding in Missouri.

Representatives Bill Huizenga (R-MI) and Blaine Luetkemeyer (R-MO) have introduced HR 8521, the Investor Democracy is Expected (INDEX) Act.

The IRS issued Notice 2022-33 which extends the deadline for amendments to retirement plans and IRAs to adopt provisions enacted under the SECURE Act, the Miners Act, and some provisions under the CARES Act.

Senators Debbie Stabenow (D-MI), and John Boozman (R-AR), along with Senators Cory Booker (D-NJ) and John Thune (R-SD), have introduced the “Digital Commodities Consumer Protection Act.”

The IRS has announced the postponement of certain tax-related deadlines for victims of a water shortage and health impact from unprecedented sargassum seagrass influx on the island of St. Croix, U.S. Virgin Islands.

Senator Mike Braun (R-IN) and seven republican co-sponsors have introduced S. 4613, the Maximize Americans’ Retirement Security Act.

The Departments of Labor, Health and Human Services and Treasury issued a joint FAQ related to the coverage of contraceptive products as preventive services by group health plans or issuers.

Effective July 27, 2022, the Federal prime interest rate increased from 4.75 percent to 5.50 percent.

The Office of Management and Budget has received a final rule from the Department of Labor (DOL) titled, “Interpretive Bulletin Relating to the Independence of Employee Benefit Plan Accounts.”

The FuturePlan team is ready for the NAPA 401(k) Summit in Tampa Bay from April 3-5.

In 2019, Nyhart joined FuturePlan by Ascensus—an opportunity to merge the unique expertise of an actuarial powerhouse with the robust services FuturePlan already offers.

3(16) fiduciary services are one of the fastest growing sectors of the retirement plan industry today, but why do these plan administrators exist? We cover that in this post.

Dedicated DB is the leading national third-party administrator of Defined Benefit plans for 1-10 employee companies.

Intac’s company name will officially change to FuturePlan at the end of August. Read about how we’re creating that future together.

Financial advisors and plan sponsors routinely benchmark their 401(k) service providers, but rarely apply the same process to plan administration. This is an unfortunate missed opportunity, since the quality and expertise of your plan administration provider (typically a TPA firm) is critically important to the success of the plan. 

Almost three years ago, our RSI leadership team embarked on a new adventure: selling the firm we built from scratch. We wanted to ensure the future of our partnerships, clients, and talented associates was bright – filled with growth and opportunity.

Prevailing wage was established under federal law by the Davis-Bacon Act of 1931. The act mandates that contractors and subcontractors must pay their workers an hourly prevailing wage when working on any federally-funded construction project in excess of $2,000.

One of the most common plan failures we see is the use of the wrong definition of compensation for plan contributions. A failure like this can be expensive to fix, but also easy to avoid. This article will address options to fix the plan, as well as ways to avoid this issue.   

There are a lot of misunderstandings in the retirement industry regarding fiduciary services and 3(16) plan administrators. Why do they exist? What do they do? How do you find a good one? We’ll answer these questions and address some myths in this post.

In our previous post, Fiduciary Market Myths and Misconceptions we discussed a few misunderstandings in the market and shed light on them. The last misconception, "recordkeepers will check payroll data for accuracy" (they do not), is one that leaves the remaining question for plan sponsors: can they really ensure their payroll data is 100% error free?

Current Head of Sales Kasey Price Named President of FuturePlan, Effective August 1, 2022

Dresher, PA—July 14, 2022—Ascensus—whose technology and expertise helps millions of people save for retirement, education, and healthcare— announced today that Kasey Price will assume the role of President of FuturePlan by Ascensus on Aug. 1, 2022.

Experienced Sales Leader Will Expand Institutional Product Pipeline and Industry Partnerships

Experienced Sales Leader Will Continue to Oversee Organization’s Northwest/Central Region

FuturePlan by Ascensus—a leading national retirement third-party administrator (TPA) that specializes in the delivery of customized retirement plan consulting and administration services—announces that Aaron McIsaac will assume divisional vice president (DVP) responsibilities for the organization’s Southern California region as a result of DVP Greg Taylor’s planned retirement. The change is effective June 30, 2021.

Jay Hollis, John Krzeminski, and Lou DePonte Join Organization to Facilitate Continued Institutional Growth and Offer Enhanced Regional Support

FuturePlan by Ascensus is pleased to announce the appointment of Mark Wiggins as divisional vice president (DVP) for the Southeast and Southwest regions, which are key growth areas for the FuturePlan organization.

Some employees carefully watch their deferral contributions with each paycheck as they go into their 401(k) or 403(b) plan account. After all, it is their money – wages they’ve set aside to be paid later! But how quickly must the deposit be made? Employers often misunderstand the deposit timing rules for employee deferrals. In this article, we will explain the rules, exceptions, and consequences, along with the options available for fixing late deposits.

Contribution Deadline and Defined Benefit Funding Relief. Some contribution deadlines have been extended and certain defined benefit (DB) plans are eligible for funding relief.

On behalf of all of us at FuturePlan, we extend our wishes for a full recovery to those directly affected by COVID-19, and our deepest sympathies to those who have lost loved ones. Our heartfelt thanks go out to the medical professionals, first responders, and essential workers who are saving lives and sustaining our communities.

It’s safe to say that the environment in which we’re living and coping today is unlike any most of us have seen in our lifetimes. Worry for our own health and that of our loved ones, challenges to the operation of virtually every type of business, social distancing, travel restrictions, and startling global financial market volatility sometimes feel beyond our ability to process.

As a business division of Ascensus, FuturePlan has maintained a Pandemic Preparedness plan since day one. It is one component of our larger Business Continuity planning process.

Small businesses are the backbone of the American economy. With these businesses and their workers bearing the brunt of the hardship associated with the coronavirus (COVID-19) pandemic, it’s incumbent on the financial services industry to do whatever we can to support them. Many believe that this support will come mainly through federal relief, and that smart legislation—providing financial stimulus and other appropriate relief—will help right the ship.

At Ascensus, we consider the safety and wellbeing of our clients and associates to be paramount. Our service and leadership teams have been closely monitoring the global spread of COVID-19 and have been making proactive adjustments to our operations in order to ensure the continued service and expertise you count on.